LONDON, June 16 (Reuters) - European stocks edged lower on
Monday, adding to last week's retreat as mounting violence from
Iraq to Kenya pummelled travel shares and prompted investors to
cash in on recent outperformers.

Airlines and cruise operators such as Carnival and
easyJet both fell more than 1 percent as Brent crude
rose to near $113 per barrel on concerns over
disruptions to oil exports from Iraq, the second-largest OPEC
producer.

Sunni Islamist insurgents have routed Baghdad's army and
seized the north of the country, threatening to dismember the
state and unleash all-out sectarian warfare across a crescent of
the Middle East.

While airlines tend to lock in prices for their immediate
fuel needs using financial derivatives known as hedges, higher
oil prices in the coming months would affect their profits from
next year.
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